Prime Minister Sir Keir Starmer has announced that legislation will be brought forward this week to take full national ownership of British Steel. In a major speech, he stated that negotiations with the current owner in Scunthorpe have failed to reach a commercial sale, and now a public interest test could be met.
“I can announce that legislation will be brought forward this week to give the government powers, subject to that public interest test, to take full national ownership of British Steel,” Starmer said.
The announcement has been welcomed by steel unions. Charlotte Brumpton-Childs, GMB National Secretary, said: “This legislation will cover the whole steel industry – it isn’t specifically for British Steel, but it is what will protect it from foreign owners. British Steel is a nationally strategic asset, it is right that the Government does everything in its power to secure its long-term future. GMB welcomes this decisive and timely intervention by the Government which will protect one of the UK’s most important industries.”
Starmer’s speech comes after a weekend of speculation about potential leadership challenges. Former minister Catherine West suggested she would launch an attempt to topple Sir Keir if a Cabinet member did not step forward. In response, Sir Keir said he would fight any leadership challenge and would not “walk away”.
This is a breaking news story, more to follow.
